The Wall Street Skinny
This podcast is a smart and entertaining peek into the world of investment banking, sales & trading, private equity, hedge funds and more. Hosted by two lifelong friends with a passion for teaching, and over two decades of experience on Wall Street. Discover the basics, ranging from “what is investment banking?” to “what moves markets?". Learn about different roles and exit opportunities, and get tips on how to land the job. Our mission is to make the world of Wall Street accessible to everyone, while keeping things relatable and fun.
Whether your goal is to work on Wall Street, or if you have NO idea what any of those things are and just want to learn some basics, this podcast is for you.
The Wall Street Skinny
152. It Wasn’t Equity Turmoil That Spooked Trump — It Was the Bond Market. A Deep Dive into WHY
This week on The Wall Street Skinny, we dive headfirst into the chaos that’s been roiling the markets—and specifically why what's happening in the bond market has investors spooked. Treasury auctions, bond yields, the dollar, and gold are all flashing red, and we break down exactly why. Kristen turns the mic to Jen, who spent nearly a decade on the interest rates desk at Morgan Stanley, Lehman, and Barclays, for an explainer on what exactly is going on in the bond markets and what it means.
We unpack the mechanics of recent treasury auctions, why foreign demand may be evaporating, and what that means for the U.S. government’s ability to finance its ballooning debt. If you've ever glossed over headlines about yield curves or direct bidder participation, this episode connects the dots—from tariff policy and inflation fears to bond market dysfunction and reserve currency status. We also tackle the growing concerns around private equity and private credit, where volatility may be hidden under the surface due to lack of mark-to-market transparency.
And while it may sound like doom and gloom (spoiler: Jen is not sleeping well), we’re here to arm you with clarity—not panic. Whether you're a finance student trying to break in, a junior banker watching the headlines, or a PE associate wondering how this impacts your portfolio companies, this is your crash course in macro stress, treasury dynamics, and the unintended consequences of trade wars.
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